Ouster (NYSE:OUST) Trading 6.3% Higher – Time to Buy?

Ouster, Inc. (NYSE:OUSTGet Free Report)’s stock price rose 6.3% during mid-day trading on Friday . The stock traded as high as $10.54 and last traded at $10.51. Approximately 186,612 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 1,556,532 shares. The stock had previously closed at $9.88.

Analysts Set New Price Targets

OUST has been the subject of several analyst reports. Cantor Fitzgerald raised shares of Ouster from a “neutral” rating to an “overweight” rating and cut their target price for the company from $12.00 to $10.00 in a research note on Monday, November 11th. Rosenblatt Securities reissued a “buy” rating and set a $17.00 price objective on shares of Ouster in a research note on Friday, November 8th. Northland Capmk upgraded shares of Ouster to a “strong-buy” rating in a research report on Thursday, December 12th. Finally, Northland Securities started coverage on Ouster in a report on Thursday, December 12th. They issued an “outperform” rating and a $14.00 price target for the company. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $13.17.

Read Our Latest Report on Ouster

Ouster Stock Up 3.9 %

The firm has a market capitalization of $510.99 million, a price-to-earnings ratio of -4.00 and a beta of 2.39. The firm’s 50 day moving average is $10.93 and its 200 day moving average is $9.40.

Ouster (NYSE:OUSTGet Free Report) last released its earnings results on Thursday, November 7th. The company reported ($0.54) earnings per share (EPS) for the quarter. Ouster had a negative net margin of 106.50% and a negative return on equity of 65.17%. The business had revenue of $28.08 million during the quarter. During the same period in the prior year, the firm earned ($0.89) EPS. On average, sell-side analysts predict that Ouster, Inc. will post -2.2 earnings per share for the current year.

Insider Activity

In other Ouster news, CEO Charles Angus Pacala bought 50,954 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The stock was purchased at an average price of $9.79 per share, for a total transaction of $498,839.66. Following the purchase, the chief executive officer now directly owns 769,957 shares in the company, valued at $7,537,879.03. This trade represents a 7.09 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Darien Spencer sold 14,869 shares of Ouster stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $9.69, for a total value of $144,080.61. Following the completion of the transaction, the chief operating officer now directly owns 291,718 shares in the company, valued at approximately $2,826,747.42. This represents a 4.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 80,415 shares of company stock worth $748,620 in the last three months. 7.81% of the stock is owned by insiders.

Institutional Trading of Ouster

A number of institutional investors and hedge funds have recently modified their holdings of the company. Rhumbline Advisers lifted its holdings in shares of Ouster by 6.6% during the fourth quarter. Rhumbline Advisers now owns 79,191 shares of the company’s stock valued at $968,000 after acquiring an additional 4,900 shares during the period. Legato Capital Management LLC lifted its holdings in Ouster by 16.3% during the 4th quarter. Legato Capital Management LLC now owns 65,860 shares of the company’s stock valued at $805,000 after purchasing an additional 9,228 shares during the last quarter. SG Americas Securities LLC boosted its position in Ouster by 19.9% in the fourth quarter. SG Americas Securities LLC now owns 19,652 shares of the company’s stock valued at $240,000 after buying an additional 3,261 shares in the last quarter. Barclays PLC grew its stake in Ouster by 280.6% during the third quarter. Barclays PLC now owns 57,330 shares of the company’s stock worth $361,000 after buying an additional 42,267 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Ouster by 6.8% in the third quarter. Geode Capital Management LLC now owns 975,407 shares of the company’s stock valued at $6,146,000 after buying an additional 62,202 shares during the last quarter. 31.45% of the stock is currently owned by institutional investors.

About Ouster

(Get Free Report)

Ouster, Inc provides lidar sensors for the automotive, industrial, robotics, and smart infrastructure industries in Americas, the Asia-Pacific, Europe, the Middle East, and Africa. Its products include high-resolution scanning and solid-state digital lidar sensors, analog lidar sensors, and software solutions.

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